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here is one thing, the deficit is shrinking. you sit around with green eye shades all the time talking about how we need to cut stuff. yeah, we do. but when the economy grows, which it's doing, guess what happens? the deficit shrinks. >> neil: but that doesn't -- >> i agree. but i'm telling you -- >> neil: this what makes -- >> our number one issue should not be green eye shades of cut this, tea party, let's not have anything. let's not spend money on anything. >> neil: our number one issue is -- >> get people work. >> neil: absolutely. but police the money coming in and make sure more money doesn't go out. >> i agree with that. but first and foremost, people got to go to work. when people go to work, th pay taxes and the deficit goes down. >> neil: any given day, you're like patty hearst. >> i'm a riddle. >> neil: exactly. he's great. he's my buddy. meanwhile, is holder a liar? douglas brinkly says it doesn't matter. he should just go and maybe eric holder is just the starter. because one of the world's most respected historian
here is one thing, the deficit is shrinking. you sit around with green eye shades all the time talking about how we need to cut stuff. yeah, we do. but when the economy grows, which it's doing, guess what happens? the deficit shrinks. >> neil: but that doesn't -- >> i agree. but i'm telling you -- >> neil: this what makes -- >> our number one issue should not be green eye shades of cut this, tea party, let's not have anything. let's not spend money on anything. >>...
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May 17, 2013
05/13
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paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted deficits since 2008 trying once again to repeal obama care. they voted for the 37th time to repeal obama care despite the fact that there is good reason to believe that obama care is to credit for much of the remarkable deficit reduction projected this week by the cbo. the deficit reduction republicans used to hold up as their entire reason for being. because the biggest driver of our long term deficits is rising health care costs and -- get this -- between 2009 and 2011, total health spending grew at the lowest annual pace in t
paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to take credit for our incredible deficit reduction celebrating that there would be press conferences. but no, there was nothing. what makes that nothing this week so very ironic is that not only did republicans essentially ignore the cbo report but they chose to spend the time they should have been out celebrating our lowest predicted...
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May 15, 2013
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we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse. >> i will give you one. it is still another one. if i can quickly push back a little on what david said, i agree. i would also say be careful what you wish for. the specter of a three year lame-duck president does not look that great internationally. i do worry about that angle. >> i am not too worried about what is happening internationally. i think they will basically be just slightly by over the next couple years. it is the economy here that i am worried about. with gridlock, look at what we have been able to get done. the president realizes
we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse....
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May 16, 2013
05/13
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neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and salary growth two times what has been. >> that $642 billion it is a lot less than it was in well under $1 trillion and we can remember a time when deficits were approaching $100 billion now we celebrate 642 billion but whatever that is. >> of course, $50 billion is a pavement a tax gimmick from fannie mae. where do they get the 60 million? they borrow it. neil: a lot of it is a tax increase. that part is there temporarily because with the fiscal cliff came at the end of the year there was a huge pre-emptive realization and bonuses were paid and 100 billion as one time revenue. neil: so you say with a focus on the lates
neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and...
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May 19, 2013
05/13
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insteadf what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. it's very difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade education has an equal effect of reducinghe deficit in government. that is not only wrong but it's stupid. the reality that a high skilled immigrant, one with a college education pays aut $30,000 more in taxes thanhey take in benefits. a low educated immigrant one with high school degree or less does exactly thepposite. though will take about $30,000 more in benefits than they pay in taxes. the essence of this bill is saying that it's going to take 11.5 million illegal immigrants that on average education of tenth grade and giving them access to 80 different welre programs, obamacare which is go
insteadf what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. it's very difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade...
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May 14, 2013
05/13
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he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings. the economic date at thaa is so so. by all economic accounts we're drift
he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less...
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May 13, 2013
05/13
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the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the best investment? >> there is no safe haven as i indicated. you have to spread your eggs. one the cure return sis more than many others do is the euro priest sigh list because everybody else hates it. they're mopping up liquidity where everyone else is printing money. they have a lot of pain. the reason they have pain is they're not print enough money. i'm not saying buy equities but the currency can be stronger. ultimately you have to have a basket. can't put money one egg, be it australian dollar or the looun any or whatever it may be. lori: axel merk. thanks for coming in. melissa:
the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the...
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May 19, 2013
05/13
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the deficit is falling dramatically. are we done? are we finished with deficit- reduction? >> we're not done with long-term deficit reduction. this is where there has been a some isconfusion. intentional in this debate. >> where is the pressure for it? does president obama pursue in -- continue to pursue entitlement reform for its own sake, without republicans saying we need to have entitlement reform? >> there are two things. republicans would like to work on tax reform. secondly, republicans used to agree with democrats that the sequester was a bad idea, that it was a bad idea because it made a huge disruption in a lot -- it created a huge disruption in a lot of important government functions, including the fence. , huge disruptions elsewhere. we saw one very visible manifestation of that with the air what situation. in my view, congress should not deal with this on an ad hoc basis, on a piecemeal basis. we should deal with the overall issue. , going tois, i think be increasing pressure to deal with the sequester. just this week, secretary habel announced furloughs for --
the deficit is falling dramatically. are we done? are we finished with deficit- reduction? >> we're not done with long-term deficit reduction. this is where there has been a some isconfusion. intentional in this debate. >> where is the pressure for it? does president obama pursue in -- continue to pursue entitlement reform for its own sake, without republicans saying we need to have entitlement reform? >> there are two things. republicans would like to work on tax reform....
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May 15, 2013
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the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately,
the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this...
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May 14, 2013
05/13
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we seemed that we were getting and budget deficits, oh, my god everyone can relax, get the economy go. then we have that wet blanket all over. depending how deep and ugly it -ets it will abfe affect the consumer. making a decision. and it could have a negative effect. neil: malia, i think every time you have a potential of a scandal. economic backdrop has a lot to say whether the scandals do that president in. i think. bill clinton of saved in large part becauseethe economy everything doing so well. this predent mig be saved. by comparison it is doing bter than it was. richard nixon was not so fortunate. >> i think you bring up a good point with looking at nixon and lousy economy. that probabl had a lot to do with the lousy economy. i don't think that scandal in washington affects our markets that much, if it did, i am sure we would not be as well off as we are, scandals in washington have been happening since washington, it is important we remember that what creates strong economies are jobs and government working with citizens to build its economy. >> what if people question that go
we seemed that we were getting and budget deficits, oh, my god everyone can relax, get the economy go. then we have that wet blanket all over. depending how deep and ugly it -ets it will abfe affect the consumer. making a decision. and it could have a negative effect. neil: malia, i think every time you have a potential of a scandal. economic backdrop has a lot to say whether the scandals do that president in. i think. bill clinton of saved in large part becauseethe economy everything doing so...
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May 16, 2013
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the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused himself of sexual assault. latest case involves a ft. hood sergeant. you won't believe this, i couldn't believe it, into prostitution and for sexually assaulting this guy did apparently charged with two others. the army's not releasing his identity as he has not been charged officially, but get a load of his job title, sexual harassment response and coordinator. that's right, the guy you're supposed to go to for help is accused of sexually assaulting someone. this comes just one week after the man in charge of sexual assault from the entire air force was charged with sexu
the smallest deficit sense 2008 which is five years ago. the deficit had been topping $1 trillion every year cynic the recession ended four years ago. they credit the economic recovery, new tax rules and spending cuts with shrinking the deficit. we'll be right back. >>> welcome back to "hardball." may seem hard to believe that you're not experiencing deja vu here, but it happened again now, a military serviceman whose job it is to protect against sexual assault has excused...
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May 14, 2013
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austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >> thank you very much. my pleasure, good luck to you and congratulations. >> thanks again to democratic house leader nancy pelosi for joining me earlier today. that's all in for this evening the rachel maddow show starts now.
austerity cut the public role, that does nothing except hurt the deficit. if you want to reduce the deficit, the best thing you can do is invest in education. the education of american people brings more money to the treasury than anything you name, whether it's early childhood k-12, higher ed, lifetime learning, and to cut education is to increase the deficit. so thank you for posing that question. >> congresswoman, really great pleasure to have you here. thank you so much. >>...
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May 17, 2013
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paul ryan was their deficit guy, and that deficit argument, that the deficit was too big, one of their main arguments against re-elected president obama. >>> we have just received the new estimate of what the deficit is going to be by the end of this year. this is what the deficit had been up through last year, so 2009. that's president obama's first year, 2010, 2011, 2012. now show the next year. this is what they had projected the deficit would be by the end of this year. but now that estimate has been revised. they have revised the projected deficit for this year, and as of now, this is what the new deficit -- we have that slide whistle. we have never used it before. are you kidding me? the opportunity cost. anyway. as of now, this is what the new estimate of what the deficit will be by the end of this year. as you can see, this means that the deficit has shrunk by about $800 billion. since president obama has been in office. this is the fastest deficit reduction we have had as a country since world war ii. and honestly, that's kind of terrible. it's kind of terrible to the extent t
paul ryan was their deficit guy, and that deficit argument, that the deficit was too big, one of their main arguments against re-elected president obama. >>> we have just received the new estimate of what the deficit is going to be by the end of this year. this is what the deficit had been up through last year, so 2009. that's president obama's first year, 2010, 2011, 2012. now show the next year. this is what they had projected the deficit would be by the end of this year. but now...
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May 15, 2013
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the country's deficit is dropping faster than expected, and important news if you take a pill to help you sleep. >>> and pilotless drones are introduced. >>> other stories making news. leaders on the independent panel on the attack of benghazi will testify before congress. thomas pickering and admiral mullen will answer questions from republicans who called their findings flawed. pickering said criticism is unfounded. >>> brad pitt calls partner angelina jolie's decision to undergo a double mastectomy heroic. the 37-year-old actress opted for the surgery after learning she possessed the gene for developing breast cancer. >>> this year's federal deficit budget is expected to fall to an estimated $642 billion. the congressional budget office cites higher tax revenues and better than expected tax payments. >>> o.j. simpson is expected to testify in court today as he bids for a new trial in his 2008 armed robbery and kidnapping case. he's arguing that a conflict of interest from his previous attorney caused bad legal advice. >>> and the navy made history tuesday by launching an unmanned j
the country's deficit is dropping faster than expected, and important news if you take a pill to help you sleep. >>> and pilotless drones are introduced. >>> other stories making news. leaders on the independent panel on the attack of benghazi will testify before congress. thomas pickering and admiral mullen will answer questions from republicans who called their findings flawed. pickering said criticism is unfounded. >>> brad pitt calls partner angelina jolie's...
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May 17, 2013
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that will put all economic policies of the making into the fall, right now it looks with a positive deficit news they won't hit the debt limit until the end of the year so there is no reason to act between now and then and they won't, they will just have one hearing after another and the ap scandal and all the other things going on. cheryl: a crucial story but the focus is not on the economy. that will -- look at the markets. 15,305 with our session high, a new record for the market, all the attention is focused on washington. >> that shows where the market folks are focused and where other people are focused. these are moments liff is more interesting. the ap, bloomberg not getting all the headlines, the primary reason is the fed continues to provide the stimulus necessary to do it, keeping rates low, companies doing more with less, the reeovery is slower, but improvements in jobs and housing market continues forward. that allowed consumers sentiment to have the best number in six years of the economy continues to do good things despite these headlines, and highlights how the fed is a driv
that will put all economic policies of the making into the fall, right now it looks with a positive deficit news they won't hit the debt limit until the end of the year so there is no reason to act between now and then and they won't, they will just have one hearing after another and the ap scandal and all the other things going on. cheryl: a crucial story but the focus is not on the economy. that will -- look at the markets. 15,305 with our session high, a new record for the market, all the...
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May 16, 2013
05/13
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i am serious the deficit dramatically lower. next. mowing your lawn isn't alwaysasy. but maybe the problem isn't your lawn. introducing the all-wheel-drive mower from husqvar. we engineered its unique drive system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction or power the all-wheel-drive mower from husqvarna. challenge e impossible. visit us online to enter the challenge the impossible protion ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we'rnot simply saluting history. we're making i are yostill sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. woman: what do you mean, meowners insurance doesn't cover floods? [ hear
i am serious the deficit dramatically lower. next. mowing your lawn isn't alwaysasy. but maybe the problem isn't your lawn. introducing the all-wheel-drive mower from husqvar. we engineered its unique drive system and dual transmission to handle hills& thick grass& and tough terrain& without losing traction or power the all-wheel-drive mower from husqvarna. challenge e impossible. visit us online to enter the challenge the impossible protion ...amelia... neil and buzz: for teaching...
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May 15, 2013
05/13
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budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and withhat: you're history. instead of looking behind... delta is looking beyond. 80housand of us investing billions. in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> the federal budget is a visit expected to shrink this fiscal year after four years of deficit of $1 trillion of ex
budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer...
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May 16, 2013
05/13
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deficit is shrinking much faster than expected. the congressional budget office estimates the deficit will fall to about $642 billion by september - $200 billion less than predicted three months ago. until now, the federal budget deficit has topped $1 trillion every year since the financial crisis. some of the money will come from bailed out mortgage giants fannie mae and freddie mac making large dividend payments to the government this year. the economic outlook is less assuring in europe. the region's economy shrank for the sixth consecutive quarter. france fell into a double-dip recession, with president francois hollande expecting lower growth this year. analysts are not expecting any major policy shifts from euro leaders. in germany, chancellor angela merkel faces re-election in september. and the european central bank has already cut rates to a record low. next week, european commissioners will meet in brussels to discuss boosting economic growth. the largest bank in europe is talking about letting 14,000 workers go to cut co
deficit is shrinking much faster than expected. the congressional budget office estimates the deficit will fall to about $642 billion by september - $200 billion less than predicted three months ago. until now, the federal budget deficit has topped $1 trillion every year since the financial crisis. some of the money will come from bailed out mortgage giants fannie mae and freddie mac making large dividend payments to the government this year. the economic outlook is less assuring in europe. the...
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May 15, 2013
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. >>> america's deficit is dropping faster than expected. >>> plus, o.j. simpson finally takes the stand today in court. >>> and america's navy takes a major step forward, introducing pilotless drones to our mighty aircraft carriers. [ female announcer ] are you sensitive to dairy? then you'll love lactose-free lactaid® it's 100% real milk that's easy to digest so you can fully enjoy the dairy you love. lactaid®. for 25 years, easy to digest. easy to love. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] >>> now to some other stories making news this morning. the leaders of the independent panel on the attack in benghazi will publicly testify before congress. thomas pickering and former joint chiefs admiral, mike mullen, will answer questions from republicans who called their findings flawed. pickering says criticism o
. >>> america's deficit is dropping faster than expected. >>> plus, o.j. simpson finally takes the stand today in court. >>> and america's navy takes a major step forward, introducing pilotless drones to our mighty aircraft carriers. [ female announcer ] are you sensitive to dairy? then you'll love lactose-free lactaid® it's 100% real milk that's easy to digest so you can fully enjoy the dairy you love. lactaid®. for 25 years, easy to digest. easy to love. [ agent...
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May 20, 2013
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because doing that will worsen the deficit and debt problem. how do you get more money into the economy without increasing the debt? this is a mechanism that allows you to do that. >> explain mechanism. >> congress has a qe policy where they print money. they use it to buy bonds from banksment the only way it can get into the economy if banks lend it. borrowers are not able to borrow because of stricter lending standards. so it has a link. we all agree on that. so how do you get money into the economy directly? bypass the credit channel. you have to get the money directly into the economy. the most direct way of doing that is basically to fund it and allow the treasury to disburse it. you would say that's ridiculous. you're giving congress free money? the idea is they would come up with good initiatives, tax cuts or productive investments. >> but i think that's a big either/or. fisher's point was he would like to see congress do things. not necessarily spend more, though. what he would like to see, if you can change the tax policy, great. >> we
because doing that will worsen the deficit and debt problem. how do you get more money into the economy without increasing the debt? this is a mechanism that allows you to do that. >> explain mechanism. >> congress has a qe policy where they print money. they use it to buy bonds from banksment the only way it can get into the economy if banks lend it. borrowers are not able to borrow because of stricter lending standards. so it has a link. we all agree on that. so how do you get...
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May 16, 2013
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deficit hogs. after so many complaints that president obama is leading us down this dark well of never ending debt, a well that george w. push dug, the debt is stranging faster than anybody expected. the shortfall projection is 25% lower than they said it will be a few months ago and it's supposed to keep on dropping. by 2015 the deficit should total 2% over the total gross domestic product. and when president bush held office it was just over 10%. it deflates under democrats. grew under bush, dropped under clinton, grew under bush. how weather is the reaction to this? john boehner said nothing. and others say it's a report of out of scroll spending even though it's the opposite. and the g.o.p. will get together to vote to repeal obama-care for the 37th time. let's go to pat in world world news. >> thank you for having me. >> john: we did work with this president. we did help to bring the deficit down together, our policies are working. have you heard any reaction from "b" this? has this humbled an
deficit hogs. after so many complaints that president obama is leading us down this dark well of never ending debt, a well that george w. push dug, the debt is stranging faster than anybody expected. the shortfall projection is 25% lower than they said it will be a few months ago and it's supposed to keep on dropping. by 2015 the deficit should total 2% over the total gross domestic product. and when president bush held office it was just over 10%. it deflates under democrats. grew under bush,...
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in this fiscal year, $200 billion lower the deficit's going to be than a couple of months ago and by 2015, we'll be talking about deficits in the realm of $300 billion and in the face of this, with millions of people still unemployed, with the unemployment rates up over 7%, we're not doing more to get people back to work. and we're still focused on deficit reduction when we see that even projecting out over several years, it's even a conservative economist, no one would argue these levels of debt that we're seeing in 2015 now are not at a sustainable level. >> is there a way for the obama administration to try to steal some of the attention away from the irs, benghazi? benghazi's not as topical because of what's coming forward about the irs. >> i wish the case for the sort of deficit hawk hysteria had anything to do with facts. we just saw one of the major papers that was brought up at a rationale for his obsession for cutting the deficit and the debt. we saw that disproved. so unfortunately, this has always been about a radical agenda. today, this afternoon, house republicans are go
in this fiscal year, $200 billion lower the deficit's going to be than a couple of months ago and by 2015, we'll be talking about deficits in the realm of $300 billion and in the face of this, with millions of people still unemployed, with the unemployment rates up over 7%, we're not doing more to get people back to work. and we're still focused on deficit reduction when we see that even projecting out over several years, it's even a conservative economist, no one would argue these levels of...
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May 15, 2013
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let's not put immigration and let's not put deficit reduction on the back burner. >> the deficit will be down 2.1% of gdp by 2015 which is well within the range that economists think it should be. the hatred of the president, and chris is right about this. much of it is rooted in race i. it is so intense that there is no interest in dealing with these other issues. also, republicans are deeply divided on everything except trying to repeal the affordable care act which isn't going to happen. so they'll focus on the scandals. a way for boehner, for mccould not to appease the tea party. and i think you asked a smart question. i think this could come back and bite the republicans politically. look back to 1998 when there was an intense effort to impeach president clinton. the democrats went out there in the mid-term and said, impeachment, scandals, it is all they're talking about. we ought to be talking about education, social security, the environment which were the real issues at that time. and the republicans got spanked badly in that mid-term election. the democrats defied history and
let's not put immigration and let's not put deficit reduction on the back burner. >> the deficit will be down 2.1% of gdp by 2015 which is well within the range that economists think it should be. the hatred of the president, and chris is right about this. much of it is rooted in race i. it is so intense that there is no interest in dealing with these other issues. also, republicans are deeply divided on everything except trying to repeal the affordable care act which isn't going to...
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May 16, 2013
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like our deficit problems and, that, you s would be the biggest sin, potentially to come of this, right? >>t is unfortunate this is happening. as one was said when it comes to abuse of presidential power, obama's turning out to be t president that nixon aspired to be. i mean, this is really unfortuuate. neil: on a side note, you mention the nixon thing how does this compare to watergate or what you know of so f? way early in the process but some are citing the oddity of this is all 40 years almost to the day of watergate hearings. >> i was a little kid on capitol hill when all of this developed. neil: sure. >> from day to day you didn't know what was going to, shoe was going to fall next and it spread and it spread and prty soon it was like a whole scenario. neil: i remember, that was supposed to be a left-wing cabal against a republican president. >> so who knows. this is unfortunate there are huge problems facing the country. none of them is being addressed. a lot of cans are being kicked and the budget is more important. cbo is just as blame worthy of distracting the attention of con
like our deficit problems and, that, you s would be the biggest sin, potentially to come of this, right? >>t is unfortunate this is happening. as one was said when it comes to abuse of presidential power, obama's turning out to be t president that nixon aspired to be. i mean, this is really unfortuuate. neil: on a side note, you mention the nixon thing how does this compare to watergate or what you know of so f? way early in the process but some are citing the oddity of this is all 40...
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May 18, 2013
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it's not like snap is a worthy sacrifice on the deficit reduction. your cuts will do little to solve the nation's long-term fiscal challenges. spending on the program is expected to decrease according to the congressional budget office's projections. the dramatic increase between '07 and 2011 st an indication that the program is responding to americans who were struggling to feed their families during the recession and slow recovery. more people are using snap because more people are facing povrsy and hunger. so how about you and clour yeegs focus on that. as the number of americans in need of help declines, so, too will the number in need of snap. snap has been one of the few reliable lifelines in our weak social safety net. it lifted 4.7 million families out of poverty in 2011. here's my proposal, congressman lucas. no member of the u.s. congress should be allowed to introduce a bill reducing snap benefits until you have personally taken the food stamp challenge. that means eating on a budget of about $1 per person, per meal. if you and all your co
it's not like snap is a worthy sacrifice on the deficit reduction. your cuts will do little to solve the nation's long-term fiscal challenges. spending on the program is expected to decrease according to the congressional budget office's projections. the dramatic increase between '07 and 2011 st an indication that the program is responding to americans who were struggling to feed their families during the recession and slow recovery. more people are using snap because more people are facing...
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May 18, 2013
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>> it is good for florida not necessarily for the budget deficit. what we have seen increasing number of people are on food stamps. we need to cut back. one commite cut it by 2.5% melissa: people would be proud that florida doubled the people on food stamps that if you qualify you must need the help and aiming at wind into% participation if you qualify that is what it is therefore will be some the 5% of the people right now that qualify actlly getting a. why is that wrong? >> programs automatically a sign people up when they sign up for other assistance someone they think they don't need od stamps but help with the energy bill but then it automatically get on fd stamps with energy assistanc the even give them energy assistance to automatically qualify for the food stamps that ithe automatic program the house would cut back. melissa: if you say you qualify but don't need it what is the harm? >> having that entitlement you lose that so you face the high tax rate. the more entitlements you have a harder it is to go out into the working world and what m
>> it is good for florida not necessarily for the budget deficit. what we have seen increasing number of people are on food stamps. we need to cut back. one commite cut it by 2.5% melissa: people would be proud that florida doubled the people on food stamps that if you qualify you must need the help and aiming at wind into% participation if you qualify that is what it is therefore will be some the 5% of the people right now that qualify actlly getting a. why is that wrong? >>...
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May 15, 2013
05/13
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the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger reductions in the deficits about three months from now. and that's going to have a good effect on markets, it's going to help the fed have some space to ease up on quantitative easing and so on. >> do you share robert's concerns about the impact of the sequester and second half of the year? >> no, i do not. we're losing about 1.5% of gdp growth. about 1% is the tax hike at the end of the year and half of that is the sequester. so far, we've overpowered that with the wealth effect and the absence of the hippopotamus, and i think that'll continue. >
the history of deficit is they tend to understate it. if you forecast it up three, up three, up three, then if you jack your forecast down to minus one then you look like a total goon. what the cbo will say is up three, up three, up three, they tend to understate their revisions, what we saw yesterday was probably about half of the revision that they really would've made if they went all in and did the fully rational forecast. probably throughout the rest of the year, you're going to see bigger...
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May 19, 2013
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overall, the economy grew 2.5% in the first three months of the year, but the deficit is dropping. plunged 32% in the first half of the fiscal year. housing is improving. prices are rising in most areas. consumer confidence, we learned late this week, lm at a six-year high. stocks, i don't have to tell you. most of the people in washington have a 401(k), so they're very well aware what is happening in the stock market. here is my question, ron, i want ron to answer this. here you've got republicans who can be focusing on other things and not the things going in the president's direction. >> right, you know, absolutely. it gives them an opportunity to kind of take the political offensive, and as i said, to mobilize their base. but there is an opportunity. there is a desire on the public to see things get done, particularly on the deficit, the debt, economic growth. those kind of issues. to the extent they're seeing us focus solely on this, there is cost. and politically, you know, your numbers, it's kind of a fascinating subcurrent which is that the grubs at the core of this new oba
overall, the economy grew 2.5% in the first three months of the year, but the deficit is dropping. plunged 32% in the first half of the fiscal year. housing is improving. prices are rising in most areas. consumer confidence, we learned late this week, lm at a six-year high. stocks, i don't have to tell you. most of the people in washington have a 401(k), so they're very well aware what is happening in the stock market. here is my question, ron, i want ron to answer this. here you've got...
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May 15, 2013
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the cbo expects a deficit for the 2013 fiscal year. it's more than $200 billion lower than the previous estimate just three months ago. the adjustment reflects new revenue, thanks from changes in tax laws and increase in payments from fannie mae and freddie mac. the cbo's current projection would mark the lowest deficit yet under president obama. >>> another u.s. service member assigned to a military sexual assault program under investigation for sexual misconduct. the pentagon says a u.s. army sergeant could face charges for solicitation abusive sexual contact, assault and treatment of subordinate. the soldier allegedly forced one subordinate soldier into prostitution and physically assaulted two others. the report comes a week after an air force lieutenant colonel working in the sexual assault prevention office was arrested and accused of sexual battery. >>> a day after being convicted for some of the worst crimes you can imagine, dr. kermit gosnell has avoided life in prison. he was found guilty of the deaths of three babies at his
the cbo expects a deficit for the 2013 fiscal year. it's more than $200 billion lower than the previous estimate just three months ago. the adjustment reflects new revenue, thanks from changes in tax laws and increase in payments from fannie mae and freddie mac. the cbo's current projection would mark the lowest deficit yet under president obama. >>> another u.s. service member assigned to a military sexual assault program under investigation for sexual misconduct. the pentagon says a...
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May 16, 2013
05/13
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instead of always dping their fingers to the till to leave a deficit and some of programs should be left one and they would easily survived. never put anything on facebook or anywhere else that is only smi private you would not want your employer to see. is seems that people put nasty things out there about their employers to lose their job and they do not want employers bad mouthing their business i think employers can check facebook and twitter to use it against a bad employee. d final waste fraud and abuse the department of interior spending hal a million of your taxpayer dollars to train fish to recognize and avoid predators. i cannot trade my husband to take up the garbage but the government sees the things differently the objective is to see if it increases the of survival rate of the sucker fish found in the colorado river. it includes upon restoration and intensive predator avoidance training and in remote sensing to account for survival rates. the grant will be activated june 22nd. how do fish avo creditors before theegovernment came to the rescue? another government gone wild a
instead of always dping their fingers to the till to leave a deficit and some of programs should be left one and they would easily survived. never put anything on facebook or anywhere else that is only smi private you would not want your employer to see. is seems that people put nasty things out there about their employers to lose their job and they do not want employers bad mouthing their business i think employers can check facebook and twitter to use it against a bad employee. d final waste...
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May 14, 2013
05/13
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immigration reform, budget deficit deal, another attempt at gun control. up in of that has been talk about since last week and all but a handful of questions today were about the app and the irs subjecting tea party groups to scrutiny. the president says if the irs officials acted inappropriately, they should be held ant credible. and on the phone records, he says mr. bober bober believes reporters should have unfettered access even as the government protects its secrets. >> believe it's possible to strike that balance and at the same time subpoena the phone records? >> i can't comment on the specific reports you cite. i can say the president does believe that the balance should be sought and can be found but it is a balance and, therefore, something that we need to constantly work at. >> the obama administration has launched six prosecutions for leaking classified information, which is more than all previous presidents come bind, shepard. >> shepard: on benghazi some observed that jay carney seems to not believe any of the questions about that are still l
immigration reform, budget deficit deal, another attempt at gun control. up in of that has been talk about since last week and all but a handful of questions today were about the app and the irs subjecting tea party groups to scrutiny. the president says if the irs officials acted inappropriately, they should be held ant credible. and on the phone records, he says mr. bober bober believes reporters should have unfettered access even as the government protects its secrets. >> believe it's...
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May 15, 2013
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the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old book. wealth of nations 1776. hey, that was a really good year by the way. adam smith. what is the underlying premise of adam smith we can apply in ample helpings to a variety of issues in the day? that is who should best deal with the procurement? whether it's a natural resource like natural gas or whether the government should decide who gets loans or what what type of loans. no, no, no. it should be free market for free men. and as the wealth of nations pointed out. don't worry about natural gas. the government can't decide w
the true issue with deficits. when you pad the course with too much weight it doesn't make the trip as efficiently. and i do understand everybody wants to ring the bell on smaller deficits. i'm in the club as well. we need to be be honest about it. obviously that's the main motivation. but there's another. we cosigned for all the losses. just hope it doesn't mean no reform. we need a free market in housing that isn't the government. nothing talks about free markets better than a really old...
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May 17, 2013
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the deficit is coming down? >> i think it's great the deficit is coming down, government taxation melton freedman said, it's true, you can't spend yourself into prosperity. if you look at government spending as a share of gdp. it tracks growth almost exactly. having the deficit come down is wonderful news. >> all right. so if people are saying this fiscal restraint is like 1936-1937, all right, where we had a recession inside a depression. yeah, i think that's a lot of gar back. i'll tell you why, i want to hear you first. >> well, the taxes went up through the great depression. the way the world works, it outlines it exactly, all these people in the great depression have missed the tax variable totally. bernanke, even milton freedman missed it in the freedom of the united states. it's taxes that really caused the economy to slow down and cutting taxes in aggregate is cutting government spending. government doesn't create resource, larry, it redistributes them. every dollar they spend for one person, they take a
the deficit is coming down? >> i think it's great the deficit is coming down, government taxation melton freedman said, it's true, you can't spend yourself into prosperity. if you look at government spending as a share of gdp. it tracks growth almost exactly. having the deficit come down is wonderful news. >> all right. so if people are saying this fiscal restraint is like 1936-1937, all right, where we had a recession inside a depression. yeah, i think that's a lot of gar back....
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May 12, 2013
05/13
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i would also say this, another part of shrinking the deficit not just tied to cutting government spending, it's tied to growing the economy. you look at the number of unemployed in this country right now, that's a real drag on the economy. as the economy grows relative to that, that's another part of shrinking, if you will. >> let's address your personal scann scandal. what did you learn from it? >> i learned a lot. i would say that you probably learn more in the valleys of life than on the mountain tops. i learned whole new things i'd never comprehended before with regard to god's grace, with regard to the reflective grace that comes to other human that you walk with on a daily basis. i learned a lot about judgment. i learned a lot about forgiveness. i could go down the litany of different things. i boil it down this way. our minister gave a great sermon a number of months back, and his point was, do the events of your life refine or define your life? i think in politics, you know 0, people want to take an event and make it definitional to your life. i think that any of these valleys or
i would also say this, another part of shrinking the deficit not just tied to cutting government spending, it's tied to growing the economy. you look at the number of unemployed in this country right now, that's a real drag on the economy. as the economy grows relative to that, that's another part of shrinking, if you will. >> let's address your personal scann scandal. what did you learn from it? >> i learned a lot. i would say that you probably learn more in the valleys of life...
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May 15, 2013
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the federal deficit is shrinking faster than expected. the congressional budget office estimates the deficit for this fiscal year will fall to $642 billion. 200 billion what they forecast in february. and the cbo says the deficit should keep improving through 2015, when it's projected to drop to $378 billion. in part, they credit tax revenue and better than expected bailout repayments. man: the charcoal went out already? ... forget it. vo: there's more barbeque time in every bag of kingsford original charcoal. kingsford. slow down and grill. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. thanks, olivia. thank you. so you can make a payment from your cell to almost anyone's phone or email. (speaking french) so you can express your gratitude... in the moment. chase quic
the federal deficit is shrinking faster than expected. the congressional budget office estimates the deficit for this fiscal year will fall to $642 billion. 200 billion what they forecast in february. and the cbo says the deficit should keep improving through 2015, when it's projected to drop to $378 billion. in part, they credit tax revenue and better than expected bailout repayments. man: the charcoal went out already? ... forget it. vo: there's more barbeque time in every bag of kingsford...
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May 15, 2013
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>> i thought they don't care about the deficit. we've stabilized it for a decade, i hear. >> it's coming down, jerry. it's dropping to 4% gdp. >> spend, spend, spend, hooray, hooray. >> by the way, it's 2.1% in 2014. >> it's never supposed to be that low again. >> so, right, look, as far as the -- i want a budget in the following sense, sloging through all these continuing resolutions where you kind of do everything by patchwork and you run into cliffs an debt ceilings, it's far from optimal for the real economy. that said, i think you got a good point this is not a group that will put together coherent budget. they can't come together with regular aura and have a smooth trajectory. >> i'm going to make a forecast here. the gop message with these investigations, whether it's the irs or benghazi or the secret wiretapping of the phone records for the a.p., these are the evils of big government and the evils of government overreach. jared, you will hear this term, government overreach, time and time again. >> i don't disagree. >> the
>> i thought they don't care about the deficit. we've stabilized it for a decade, i hear. >> it's coming down, jerry. it's dropping to 4% gdp. >> spend, spend, spend, hooray, hooray. >> by the way, it's 2.1% in 2014. >> it's never supposed to be that low again. >> so, right, look, as far as the -- i want a budget in the following sense, sloging through all these continuing resolutions where you kind of do everything by patchwork and you run into cliffs an...
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May 16, 2013
05/13
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over taxes and whether they include that as part of a deficit package. they feel president has been the offensive since the beginning of his second term. this is the first time they feel they have something to really pound the administration on. and i don't that you really sense any sort of shift other than they feel like they can continue to throw bombs up here. >> all right. thank you so much. see you soon. >> thank you. >>> up next, an issue that he also knows about there on the hill. what congress is not focusing on amid the distractions. "the cycle" roe on for thursday, may 16th. ♪ ♪ ♪ (vo) purina cat chow. 50 years of feeding great relationships. with one extraordinary purpose... to get "man of steel" advanced screening tickets. [ movie announcer voice ] at walmart. see "man of steel" at your local theater before anyone else. get in line 8 a.m. may 18th at walmart. rated pg-13. her long day of pick ups and drop offs begins with arthritis pain... and a choice. take up to 6 tylenol in a day or just 2 aleve for all day relief. all aboard. ♪ [
over taxes and whether they include that as part of a deficit package. they feel president has been the offensive since the beginning of his second term. this is the first time they feel they have something to really pound the administration on. and i don't that you really sense any sort of shift other than they feel like they can continue to throw bombs up here. >> all right. thank you so much. see you soon. >> thank you. >>> up next, an issue that he also knows about...
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May 19, 2013
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and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned. >>> first, here is my take. conservatives are, of course, mad at barack obama. we'll talk about the various scandals in a moment, but they're also mad at a country that isn't mad enough at him. this frustration is now taking over main stream and intelligent voices within the conservative movement and about broader issues than benghazi. brett stevens, the columnist for "wall street journal" lementes that president obama is not paying a price for a foreign policy that he, stevens, describes as isolationist. now, isolationism will come as a surprise to the diplomat soldier
and the amazing shrinking american budget deficit. i'll ask mitt romney's chief economic adviser whether he thinks the problem has gone away. >>> also, as america prepares to draw down from afghanistan, what can it learn from britain's withdrawal 170 years ago? i'll ask theauthor of a great new book. >>> next, a look into the crystal ball of technology with google's executive chairman eric schmit. a sure fire plan to reduce carbon dioxide emissions. how so? stay tuned....
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May 17, 2013
05/13
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u know, maybe something about our times we could celebrate $682 billion deficit, i'm saying, i think weadock this bu we are forgetting about this, that worries me. >> i think w should celebrate a little bit to extent we had a record peacetime deficit 2009, over 25% of gdp through tremendous effort of public engaged on the spending issue like i've never seen before. it wl be around 22%. >> do you think our eye will be off the ball now? >> fortunately the big spending fight is not going to be in the summer, but it will be in the fall. theebt seatinget get -- ceiling will get rolled together, we have a big fight over this in september, i think that scandals may inform that debate in a productive way, they show there a lack theontrol wi that out of control big government, even david axelrod said it is too vast for white house to know what is going on. when the government is too vast for the white house to know what is going on i hope they down size it. neil: that worries me when anyone in the white house doesn't know whattis going on, that gets to be a theme of late. so, there is a sense
u know, maybe something about our times we could celebrate $682 billion deficit, i'm saying, i think weadock this bu we are forgetting about this, that worries me. >> i think w should celebrate a little bit to extent we had a record peacetime deficit 2009, over 25% of gdp through tremendous effort of public engaged on the spending issue like i've never seen before. it wl be around 22%. >> do you think our eye will be off the ball now? >> fortunately the big spending fight is...
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May 13, 2013
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detroit budget deficit will hit $386 million in two weeks. that's about $60 million more than the city's march estimate. in new orleans, police now releasing surveillance videotape showing a possible suspect in the mother's day shootings where 19 people were injured, three critically. officials are looking for three suspects now but they're calling the attack during a neighborhood parade street violence, not terrorism. in benghazi, libya, at least 10 people are dead after a car bomb exploded by remote control in a crowded area outside the city's main hospital. no confirmation on the number of injured at this time. those are your headlines on fox business network. now back to cheryl. cheryl: thank you very much. markets are mixed despite better than expected retail sales numbers this morning, .1% for the month of april, gardening stores seeing an even bigger return. our next guest says there's definitely a correlation between retail sales and the real estate market. joining me is real estate advisory practice who looks incredibly brilliant thi
detroit budget deficit will hit $386 million in two weeks. that's about $60 million more than the city's march estimate. in new orleans, police now releasing surveillance videotape showing a possible suspect in the mother's day shootings where 19 people were injured, three critically. officials are looking for three suspects now but they're calling the attack during a neighborhood parade street violence, not terrorism. in benghazi, libya, at least 10 people are dead after a car bomb exploded by...
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May 19, 2013
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we have a clearly growing deficit of trust from the american people towards their government. that's true with the bush administration and now under the obama administration. that's not good for the country or the democracy. the other part is that we have problems, clearly as we have seen in the irs, that we have to address because, again, whether you are a republican or democrat, these kind of failures should not happen. when they do, you know, you need to take, not just corrective action, you need to get to the bottom of it and make sure that it never happens again. that's where the focus should be. >> chris, it is the president's supporters who are saying that republicans are playing a role in all of this. but with the hearings, one after another, the finger continues to be pointed at at white house and what they knew -- benghazi, irs, a.p -- what are republicans want to accomplish? which answers are most critical? what would be the impact on both the white house and congress? >> the danger for republicans in this is if they overreach and make this partisan. once it becomes
we have a clearly growing deficit of trust from the american people towards their government. that's true with the bush administration and now under the obama administration. that's not good for the country or the democracy. the other part is that we have problems, clearly as we have seen in the irs, that we have to address because, again, whether you are a republican or democrat, these kind of failures should not happen. when they do, you know, you need to take, not just corrective action, you...